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US “ipso facto” and UK “anti-deprivation”: the Lehman “flip” clause

  • Chadbourne & Parke LLP
  • -
  • United Kingdom, USA
  • -
  • August 18 2010

On November 6, 2009, the English Court of Appeal issued a judgment in the case of Perpetual Trustee Company Limited & another v BNY Corporate Trustee Services Ltd & another 2009 EWCA Civ 1160, an action commenced in the English High Court by the noteholders representative Perpetual Trustee Company Limited ("Perpetual"